The foundation of Victoria University of Bangladesh is laid on Global Institute of Business and Technology (GIBT), Dhaka – the only approved educational partner center of Victoria University of Wellington (VUW) in South Asia – which started functioning in 1999. In March 2001 it signed a partnership agreement with Victoria University of Wellington, New Zealand. The partnership agreement was designed to jointly provide degree programs for students with facilities for studies both at GIBT and VUW leading to VUW degrees.